Subject: File No. 4-627
From: JOHN J SCOTT

May 9, 2011

Short sales should be transparent and immediately reported to appropriate regulatory authorities. The recent phenomena of "FLASH" crashes and the inability of regulatory bodies to both investigate and explain what actually happened shows a decided weakness in our efforts to keep the playing filed level and protect the " average " investor. Small wonder so many investors feel regulators and big money are in a symbiotic relationship are they are left out as shark bait.
Naked short selling in a scandal of immense proportions and
might better be controlled or curtailed in mandatory and immediate reporting was required. Enforcement penalties with substantial fines and jail time are long overdue for those who manipulate or rig the markets.